Xerox announces 15% workforce reduction, shifts focus to digital services

Xerox Layoffs 2024: Xerox, a global leader in digital printing and document management, has revealed plans to reduce its workforce by 15%, impacting over 3,000 employees in a bid to streamline its operational structure. The company has around 20,500 employees.

The proposed overhaul aims to simplify its product offerings within its core print business, enhance efficiency in its global business services, and intensify focus on IT and other digital services, as outlined in the company's official release.

In a statement, Xerox CEO Steven Bandrowczak emphasized that the move towards a business unit operating model aligns with their client-centric approach, seeking to accelerate product and service delivery while optimizing operating efficiencies across all served geographies. This restructuring also involves a redesign of the executive team to facilitate the implementation of the new model.

The layoffs, expected to be executed in this quarter, signify a significant shift in Xerox's organizational strategy. However, beyond the information provided in the release, representatives for Xerox have abstained from commenting further on the matter.

This decision to downsize the workforce comes as part of a broader initiative to adapt to changing market demands and technological landscapes. Despite the potential for improved efficiency and streamlined operations, the layoffs underscore the challenging nature of corporate reorganization and its human impact.

Xerox, a company renowned for its innovations in the printing and document management sphere, faces a pivotal moment in its evolution as it strives to align its operations with the rapidly evolving digital landscape while navigating the implications of this substantial workforce reduction.

Also Watch: Layoff 2024: Frontdesk lays off entire workforce during short GMeet call